It can be a gamble. Missing history does not prove neglect, but it removes evidence that important maintenance was done.
Price the uncertainty
If two similar cars cost the same and one has clear records, the documented one is usually easier to justify. A car with no history should not be priced as though the history were perfect.
Look for evidence elsewhere
Invoices, digital dealer records, MOT mileage and stickers can sometimes rebuild part of the story. Ask rather than accepting 'lost book' as the end of the conversation.
A professional inspection can help
An inspection cannot recreate missing servicing, but it can identify current problems and signs of neglect.
Do not spend so much on the purchase that you have nothing left for insurance and the maintenance a poorly documented car may need.
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